Friday, September 21, 2012

The tech sector is the best performing sector in
today’s session and triggering the global rally. The entire sector got solid
optimism from Apple Inc.(NASDAQ:AAPL) as demand for world’s largest company’s
new iPhone crossed all the previous record. The stock is up another 0.75% to
trade above $700 as the company’s iPhone went on sale across in nine countries including
Hong Kong to London to New York.

Just like in the past, users went
crazy for the company’s latest version and the demand is very high with
everyone want to be smart by buying the latest development first. If we take
comment from an analyst at Piper, the company has witnessed more 83% larger
footprint than they were for the 4S at at Boston, New York, and Minneapolis.

Both the investors community and users community seems
quite comfortable with the company’s latest launch despite
heavy criticism over’s the company replacement of Google Inc(NASDAQ:GOOG)’s
Maps with its own Map in iOS 6. There
are reports
that the company has hired engineers to resolve the issue.

Apple Inc's new iPhone with a bigger screen and 4G
wireless technology were already running
out of stock with an hour thereby leaving the prospective buyers with no
alternatives but to wait for placing the orders.

Analysts are very
bullish on iPhone 5’s sales with analyst at Piper Jaffrey estimates are -
the phone will sell about 6 to 10 million units in the September quarter
itself. he total sales of all the iPhones put together is expected to be in the
region of 27 million, which is up from the 22 million previously forecast.

With the strong demand for Apple’s iphone5, shares
of Sprint Nextel Corporation(NYSE:S) also soared 4% as the iPhone 5 is already sold out at many East
Coast Sprint stores, a company rep tells AllThingsD. That could be helping
Sprint, which has committed to buying $15.5B worth of iPhones through 2015,
rally. Interstingly, shares of Clearwire Corporation(NASDAQ:CLWR) also climbed
5.40% despite the fact that iPhone 5
won't use Clearwire's network for now.

Moving away from Apple’s stories, Expedia
Inc(NASDAQ:EXPE) jumped 4.50% as analyst at Deutsche upgraded the stock to Buy , citing an
improving bookings conversion rate. Also, analyst at Cantor started coberage on
the stock yesterday afternoon with a Buy, as part of a broader sector launch.

After getting bludgeoned yesterday due to
disappointing guidance, analyst day comments, and rumors of iPhone 5 content
loss, Skyworks Solutions Inc(NASDAQ:SWKS) is bouncing after teardowns reveal
the chipmaker is supplying 2 of the 5 power amplifier modules found in Apple's
latest phone, along with a Wi-Fi front-end chip. Shares of SWKS are up 4.20%.